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Blech Thursday
David Abraham Blech (born November 25, 1955) is an American businessman, investor, and venture capitalist. He is one of the financial pioneers of the biotech industry and was once known as the "King of Biotech". Early life and education Blech grew up in Brooklyn, New York. Blech graduated from Baruch College and earned a Master's in Music Education at the Teacher's College of Columbia University. Early career Since 1980, Blech has founded companies and vested venture capital in the biotechnology sector. His initial venture investment, Genetic Systems Corporation, which he helped found with his father and his brother Isaac Blech, was built around promising scientists, including the high-profile microbiologist Robert Nowinski. It developed a test to diagnose sexually-transmitted diseases using monoclonal antibodies. The company was sold to Bristol Myers in 1986 for $294 million (3%) of Bristol Myers stock. In 1989, Blech co-founded Icos Corporation with Nowinski and George B. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Venture Capitalist
Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number of employees, annual revenue, scale of operations, etc. Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing start-ups in the hopes that some of the companies they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. Start-ups are usually based on an innovative technology or business model and often come from high technology industries such as information technology (IT) or biotechnology. Pre-seed and seed rounds are the initial stages of funding for a startup company, typically occurring early in its development. During a seed round, entrepreneurs seek investment fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
